The continued turbulence of the automotive industry and the rapid transition to electrification has driven seating supplier Adient to take a new approach to doing business.
It's no longer about growing market share at all costs, or winning every contract no matter the value proposition, according to CEO Doug Del Grosso.
The supplier, which is forecast to hit $15 million in revenue this year, has become more deliberate about walking away from business it doesn't like and more aggressive about renegotiating contracts that no longer make financial sense.
"We've changed our mindset over the course of the last four years," Del Grosso told Crain's Detroit Business, an affiliate of Automotive News Europe, during an interview. "It's very much bottom-line performance-based and not top-line growth. Unless we're absolutely sure we can get a return on our investment, we don't really measure performance in terms of market share I think like we historically had."
A key part of differentiating itself amid increasing competition, Del Grosso said, has been its joint venture with Detroit-based Bridgewater Interiors, a certified minority business enterprise. Founded 25 years ago, it has grown from a small seating supplier to General Motors to a systems assembler for 15 different car models across three plants in Michigan and one in Alabama.